What are the repercussions of the ‘Ever Given’ getting lodged in the Suez Canal?

Five on 2

MORAINE, Ohio (WDTN) — The “Ever Given” has been freed at the Suez Canal, opening up passage for nearly 100 ships while over 300 are still waiting their turn. The long term repercussions are unknown at this time, what is know is that the ship caused billions of dollars of maritime losses.

“This is 12 percent of all global trade that runs through here and given a blockage of almost a week, it’s somewhere in the realm of $50 to $70 billion that’s been backed up,” said Dr. Glen Duerr, associate professor of international studies at Cedarville University.

Duerr said we’ll likely see a ripple effect for anywhere between three to six months. However, the U.S. is well insulated and will be less impacted than other counties. Duerr said there will definitely be lawsuits and legal challenges in the future as well.

This raises the question of whether having canals like this is the best thing moving forward. Duerr said there are only a handful of major choke points like this across the world and the last week clearly illustrated the damages a single vessel can cause the world over.

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